De Shaw Fires DEI Chief Amid Concerns Over Company Direction
De Shaw, a left-leaning hedge fund, recently parted ways with its chief of diversity, equity, and inclusion (DEI) following the release of a post regarding its human resources policy. Staff members reportedly had concerns that the company might align with President Trump’s vision.
Maja Hazel, who had been spearheading DEI initiatives at various high-performing financial firms for four years, was dismissed last week by Chief Operating Officer Eddie Fishman, according to a source familiar with the situation.
According to insiders, the company plans to offer Hazel a part-time consulting role as part of her exit agreement. Those in her department mentioned that De Shaw would be reallocating resources as they aim to wind down the DEI units.
Hazel reached out to the media but denied any plans to leave De Shaw, although she did not clarify whether she would accept a part-time consulting position.
Managing assets exceeding $70 billion, De Shaw has not commented on the situation despite multiple inquiries.
Hazel’s departure stems from concerns that maintaining a DEI stance could provoke scrutiny from the current administration, particularly given recent reports about discontent among employees at the company, which was co-founded by prominent Democratic donor David E. Shaw.
One source explained that the company was wary of being labeled as “woke” and considered this move a necessary step.
Hazel joined De Shaw as Managing Director of Diversity, Equity, and Inclusion in October 2021. Her LinkedIn profile presents her as an expert in the field, with prestigious alumni status from Yale and Georgetown.
The company’s founder, David E. Shaw, has been a significant contributor to Democratic campaigns, including those of President Biden and former presidents Obama and Clinton.
In January, President Trump signed an executive order targeting organizations that continue to implement DEI policies, reflecting a broader political climate concerning such initiatives.
Attorney General Pam Bondy later reinforced this approach by issuing a memo advocating for steps to eliminate illegal discrimination in the private sector.
In 2024, De Shaw became noted for its algorithm-driven profitability, reportedly generating $11.1 billion for investors, as reported by a financial publication.
Notable De Shaw alumni include figures like Jeff Bezos and Lawrence Summers, highlighting the firm’s influential network.
Previously, De Shaw had prominently advertised its internship programs aimed at underrepresented groups, but these references seemed to vanish when questioned by the press.
In 2016, the firm launched its “comprehensive” bridge internship program designed for historically underrepresented groups in finance.
However, when reporters inquired about these programs, they mysteriously disappeared from the company’s online presence.
Archived versions of De Shaw’s recruitment portal reveal three initiatives targeting diverse recruitment: a program aimed at women, another for the LGBTQIA+ community, and a third for individuals identifying as Native American, Black, Hispanic, or from other underrepresented backgrounds.
